IRS bumps up HSA contribution max for 2015

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By Jerry Geisel, Crain News Service

WASHINGTON (April 24, 2014) — The maximum contributions that can be made to health savings accounts (HSAs) will increase $50 for individuals and $100 for families in 2015.

The Internal Revenue Service announced April 23 that the maximum contribution that can be made to an HSA in 2015 will be $3,350 for employees with single coverage—up from $3,300 this year.

The maximum HSA contribution for those with family coverage will be $6,650—up from $6,550.

The maximum out-of-pocket employee expense, including deductibles, will rise next year to $6,450 for single coverage from $6,350. For family coverage, it will increase to $12,900 from $12,700.

Increases in the HSA limits, which are detailed in Revenue Procedure 2014-30, are tied to changes in the cost of living.

This report appeared on the website of Crain’s Business Insurance magazine, a Chicago-based sister publication of Tire Business.

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TB Reader Poll

Previous | Published May 22, 2015

When is the last time you attended one of the national tire industry trade shows, such as SEMA, ITEC or the North American Tire & Retread Expo?

I try and take in at least one show a year.
30%
I usually attend one every few years.
14%
There are so many tire maker and distributor meetings each year, I don’t see a need to attend one of the national shows.
12%
I don’t find value in these shows and haven’t been to one in years.
19%
I’d like to but I am too busy
25%